Published on 8/31/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $810,000 trigger absolute return step notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Aug. 31 – HSBC USA Inc. priced $810,000 of 0% trigger absolute return step securities due Aug. 31, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par of $10 plus the greater of the gain and the step return of 30.5%.
If the index falls but finishes at or above the 70% downside threshold level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger absolute return step securities
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Underlying index: | S&P 500
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Amount: | $810,000
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Maturity: | Aug. 31, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index finishes at or above its initial level, par plus the greater of the gain and the step return of 30.5%; if the index falls by up to 30%, par plus the absolute value of the return; otherwise, full exposure to any losses
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Initial index level: | 2,444.24
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Downside threshold: | 1,710.97, 70% of initial level
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Pricing date: | Aug. 28
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Settlement date: | Aug. 31
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Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
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Fees: | None
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Cusip: | 40435G733
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